Cathay General Bancorp Expected to Earn $ 3.71 per Share for Fiscal 2021 (NASDAQ: CATY)
Cathay General Bancorp (NASDAQ: CATY) – Piper Sandler research analysts dropped their earnings per share (EPS) estimates for fiscal 2021 for Cathay General Bancorp in a research report released on Wednesday, November 3. Piper Sandler analyst Mr. Clark now expects the bank to post earnings per share of $ 3.71 for the year, down from its previous forecast of $ 3.77. Piper Sandler also released Cathay General Bancorp earnings estimates for the fourth quarter of 2021 at $ 0.90 per share, first quarter 2022 earnings at $ 0.87 per share, second quarter 2022 earnings at 0.94. $ per share, Q3 2022 earnings at $ 0.96 per share, Q1 2023 earnings at $ 0.92 EPS, Q2 2023 earnings at $ 0.98 EPS, Q3 2023 earnings at 1, $ 04 EPS and FY2023 profit at $ 4.03 EPS. Cathay General Bancorp (NASDAQ: CATY) last reported its results on Sunday, October 24. The bank announced EPS of $ 0.93 for the quarter, beating the consensus estimate of $ 0.91 by $ 0.02. The company posted revenue of $ 164.70 million in the quarter, compared to a consensus estimate of $ 164.30 million. Cathay General Bancorp had a net margin of 41.32% and a return on equity of 12.00%. Cathay General Bancorp’s revenue increased 2.6% compared to the same quarter last year. In the same quarter of the previous year, the company posted $ 0.71 in EPS.
Several other research analysts have also published reports on the stock. Zacks investment research downgraded Cathay General Bancorp shares from a “buy” rating to a “conservation” rating in a research note on Wednesday, October 27. Truist Securities raised its target price on Cathay General Bancorp shares from $ 40.00 to $ 44.00 and assigned the stock a “hold” rating in a research report released on Monday, August 30. Truist raised its price target for Cathay General Bancorp shares from $ 40.00 to $ 44.00 and assigned the company a “conservation” rating in a research report published on Monday, August 30. Finally, DA Davidson reissued a “neutral” rating on Cathay General Bancorp shares in a research note on Wednesday, July 28. Five research analysts rated the stock with a maintenance rating. According to data from MarketBeat.com, Cathay General Bancorp currently has a consensus rating of “Hold” and a consensus target price of $ 45.
CATY action opened for $ 43.90 on Friday. The company has a debt ratio of 0.07, a current ratio of 1.04, and a quick ratio of 1.05. Cathay General Bancorp has a one-year low at $ 23.51 and a one-year high at $ 45.19. The company has a 50-day simple moving average of $ 40.67 and a 200-day simple moving average of $ 40.28. The stock has a market cap of $ 3.43 billion, a price-to-earnings ratio of 11.83 and a beta of 1.41.
Institutional investors and hedge funds have recently increased or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its holdings of Cathay General Bancorp shares by 4.3% in the first quarter. UBS Asset Management Americas Inc. now owns 85,288 shares of the bank valued at $ 3,478,000 after acquiring an additional 3,516 shares during the period. Profund Advisors LLC purchased a new stake in Cathay General Bancorp in the 1st quarter for a value of approximately $ 258,000. Centiva Capital LP acquired a new position in shares of Cathay General Bancorp in the 1st quarter valued at approximately $ 372,000. Thrivent Financial for Lutherans increased its position in Cathay General Bancorp shares by 1.5% in Q1. Thrivent Financial for Lutherans now owns 19,920 shares of the bank valued at $ 812,000 after purchasing an additional 287 shares in the last quarter. Finally, Captrust Financial Advisors strengthened its position in Cathay General Bancorp by 34,398.0% during the first quarter. Captrust Financial Advisors now owns 51,747 shares of the bank valued at $ 2,110,000 after purchasing an additional 51,597 shares in the last quarter. 68.71% of the shares are currently held by institutional investors and hedge funds.
Meanwhile, Executive Vice President Kim R. Bingham sold 3,000 shares of the company in a transaction that took place on Friday, October 29. The stock was sold for an average price of $ 42.68, for a total trade of $ 128,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, vice-president Peter Wu sold 20,000 shares of the company in a transaction that took place on Friday, August 27. The stock was sold for an average price of $ 39.74, for a total value of $ 794,800.00. Disclosure of this sale can be found here. Insiders own 4.23% of the company’s shares.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 9. Shareholders of record on Monday, August 30, received a dividend of $ 0.31. This represents an annualized dividend of $ 1.24 and a return of 2.82%. The ex-dividend date was Friday August 27. Cathay General Bancorp’s dividend payout ratio is currently 43.21%.
About Cathay General Bancorp
Cathay General Bancorp is a holding company which provides financial services. It offers commercial mortgages, business loans, small business administration loans, residential mortgages, real estate construction loans, home equity lines of credit and personal installment loans for expenses. automobiles, housework and other consumer expenses.
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